Residents in Braddan will be paying 257p in the pound in rates for the forthcoming financial year.
This is an 11.7% increase on the current rates.
The domestic refuse charge has also increased by £6 (7.3%) to £88.
The rates fund the parish's local authority.
One penny on the rate equates to £5,614.91 in income for the parish, the board of commissioners says.
Andrew Jessopp, the board's chairman, said: ‘Given the economic climate over the past 12 months and the inflationary pressures currently being experienced, this was one of the most difficult rate setting exercises in a decade.
‘We considered all of the costs for the forthcoming financial year over several meetings and weighed all the options available to us.’